(INDIANAPOLIS) - Purdue has reached a settlement with the parents of a freshman electrocuted seven months ago.

Dawn Adams and Dale Steffey say the university has agreed to pay a half-million dollars, along with 100-thousand dollars to start a memorial scholarship in Wade Steffey's name. The half-million represents the maximum possible payment in a wrongful-death suit under state law.

The Bloomington 19-year-old disappeared in January after a party. His body was found in March inside a room filled with high voltage electrical equipment.

The Tippecanoe County coroner's office says Steffey was electrocuted. An investigator hired by Purdue concluded Steffey had been drinking, but the Steffey family's attorneys insist alcohol was not a factor.